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Home / India News / Maharashtra CM Uddhav Thackeray announces farm loan waivers up to Rs 2 lakh

Maharashtra CM Uddhav Thackeray announces farm loan waivers up to Rs 2 lakh

The government realised that the blanket loan waiver to about 89 lakh farmers would need more than Rs 26000 crore, hence it has decided to put a cap of Rs 2 lakh for the loan waiver.

india Updated: Dec 21, 2019, 19:19 IST
HT Correspondent
HT Correspondent
Hindustan Times, Mumbai
Though modalities of the scheme are yet to be finalised, the state government is expected to constitute a group of the ministers to chalk out a comprehensive framework of the scheme.
Though modalities of the scheme are yet to be finalised, the state government is expected to constitute a group of the ministers to chalk out a comprehensive framework of the scheme. (ANI)

Maharashtra Chief Minister Uddhav Thackeray has announced that farm loans upto Rs 2 lakh taken before September 30, 2019 will be waived off, on the last day of the winter session state legislature in Nagpur on Saturday. He has announced the farm loan waiver three weeks after the three party alliance, Maharashtra Vikas Aghadi, took over the reigns of Maharashtra.

“Our government has decided to launch a loan waiver scheme for the farmers. The scheme of the loan waiver will be called Mahatma Jyotirao Phule loan waiver and the crop loans taking before September 30, 2019 will be waived by my government,” Thackeray said in the Assembly.

Soon after Uddhav Thackeray came to power, he directed the finance department to review the financial health of the state before announcing the loan waiver. The government realised that the blanket loan waiver to about 89 lakh farmers would need more than Rs 26000 crore, hence it has decided to put a cap of Rs 2 lakh for the loan waiver.

Though modalities of the scheme are yet to be finalised, the state government is expected to constitute a group of the ministers to chalk out a comprehensive framework of the scheme.

Nationalist Congress Party leader and finance minister Jayant Patil said that there would be no conditions, like the ones in the loan waiver scheme announced by the previous Fadnavis government, and the farmers will be able to get the benefits by just filling simple application forms.

Congress leaders said that nearly 75% of the indebted farmers will be able to clear their loans in this scheme.

Leader of opposition Devendra Fadnavis said that the Thackeray government has not kept its promise of complete loan waiver.

The Fadnavis government had announced loan waivers named after Chhatrapati Shivaji in June 2017. About 48 lakh farmers were given loan waivers worth Rs 18800 crore. The upper limit for the waiver was kept at Rs 1.5 lakh. The cut off date for the waiver was June 30, 2017.

Shiv Sena, Nationalist Congress Party and Congress, the alliance partners in the MVA in their respective election manifestoes, had announced blanket loan waiver for the farmers.

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